Samsung Active Asset Management's KoAct KOSDAQ Active ETF closed at 9,580 won on July 6, down 5.34%, marking a 35.27% decline from its intraday peak of 14,800 won recorded on March 11, the day after its March 10 listing at 12,020 won. The fund has underperformed amid broad KOSDAQ market weakness, which saw the index fall 26.12% from 1,146.54 points on March 11 to 847.07 points on July 6. Industry observers attribute the steeper ETF decline to its active strategy's higher concentration in growth stocks—particularly biotech, technology, and secondary battery material shares—which faced amplified pressure from retreating rate-cut expectations and global economic slowdown concerns. The fund, designed to generate alpha through selective stock picking in the KOSDAQ market, has experienced 376.2 billion won in net outflows over three months following an initial 1.0573 trillion won inflow during its first two weeks of trading.
KoAct KOSDAQ Active ETF Records 35% Decline from March Peak
The KoAct KOSDAQ Active ETF closed at 9,580 won on July 6, representing a 20.3% decline from its March 10 listing price of 12,020 won. The fund reached an intraday high of 14,800 won on March 11, one day after listing, before declining 35.27% to current levels. During the same period, the KOSDAQ index fell from 1,146.54 points on March 11 to 847.07 points on July 6, a 26.12% decrease. The ETF's performance lagged the broader index decline by approximately 9 percentage points from the March 11 peak.
Fund Experiences 376.2 Billion Won Net Outflow After Initial Surge
According to ETF Check data, the KoAct KOSDAQ Active ETF attracted 1.0573 trillion won in net inflows during its first two weeks of trading following the March 10 listing. Starting from the fourth week of March, the fund entered a sustained outflow period, recording 376.2 billion won in net redemptions over the subsequent three-month period through early July. The outflow trend coincided with the onset of KOSDAQ market weakness and the fund's underperformance relative to its March highs.
Growth Stock Concentration Amplifies Decline Amid KOSDAQ Weakness
Industry analysts identify the fund's active management strategy as a factor in its amplified decline relative to the KOSDAQ index. The ETF's higher allocation to growth stocks in biotech, technology, and secondary battery materials sectors exposed it to greater volatility during the market correction. Biotech and technology shares weakened amid retreating expectations for interest rate cuts and concerns over global economic slowdown. Secondary battery material stocks faced additional pressure from sector-specific business cycle deceleration, contributing to the fund's underperformance.
Samsung Active Asset Management Faces Performance Scrutiny After Listing Controversy
Samsung Active Asset Management launched the KoAct KOSDAQ Active ETF with a stated objective of generating excess returns through identification of promising growth stocks within the KOSDAQ market. Active ETFs differ from passive index-tracking products by employing portfolio manager discretion in stock selection to pursue alpha generation. At the time of listing, Samsung Active Asset Management stated that "the concentration toward active ETFs with systematic analysis systems is expected to become more pronounced amid anticipated large-scale fund inflows." The fund faced controversy at launch over pre-disclosure of portfolio holdings. Current performance has fallen short of initial expectations, according to industry assessments.
FAQ
What was the KoAct KOSDAQ Active ETF's closing price on July 6?
The KoAct KOSDAQ Active ETF closed at 9,580 won on July 6, down 5.34% for the day.
How much has the KoAct KOSDAQ Active ETF declined from its peak price?
The fund has declined 35.27% from its intraday peak of 14,800 won recorded on March 11, the day after its March 10 listing.
What were the fund flows for the KoAct KOSDAQ Active ETF after listing?
The fund attracted 1.0573 trillion won in net inflows during its first two weeks of trading, then experienced 376.2 billion won in net outflows over the following three-month period starting from late March.
